AT&T, Wal-Mart Renew Phone Card Pact
by January 19, 2004 12:00 am 60 views
AT&T Corp. said on Jan. 13 that it had renewed its contract to be the sole provider of prepaid phone cards to Wal-Mart Stores Inc.’s Wal-Mart stores and Sam’s Clubs until the beginning of 2005.
A spokesman for the telecommunications company said the contract accounted for about 5 percent of AT&T’s consumer services revenue of $11.53 billion in 2002, or about $576.4 million.
AT&T had about $37.83 billion in total revenue in 2002.
In its annual report, AT&T said the contract with Wal-Mart generated more than 50 percent of the company’s revenue from prepaid phone cards. Total revenue from prepaid phone cards wasn’t provided.
In a press release, AT&T said the contract was renewed for the sixth consecutive year.